SUB : MASTER OF BUISNESS ADMINISTRATOR- MBA SEMESTER 2

SUBJECT:- PROJECT MANAGEMENT

Q.1 COMMENT ON THE FOLLOWING?

A. IMPORTANCE OF DMAIS IN PROJECT MANAGEMENT

CYCLE
B. KNOWLEDGE AREAS OF PROJECT MANAGEMENT.

ANS A: DMAIS = DEFINE+MEASURE+ANALYSE+IMPROVE+STANDARD

1 DEFINE : This step requires that what is sought to be achieved is

identified in all its detail. The following are the inputs which will
definewhat we are going to make:

a. Benchmark: it refers to the standards achieved by the best in the

industry. a companys product is set to meet them.
b. Customer requirement: it refers to the documentation of customer
requirements. Proper understanding of customer requirement is of
outmost importance.you should deliver what a customer requires.
c. Process flow map: it shows the activites that take place to result in the
product at the end of them.
d. Quality function deployment: this tool compares the quality
characteristics in a companys product with those in their competitors
and their relative importance to the customer . to achieve them ,you
find the technical specification you have to incorporate in our product.
e. Project management plan: this includes the materials ,men,activities,
schedules, milestones and so on.

2. Measure: in this step we measure the outcomes of the activities .

this is done using the following methods.
a. data collection: you need to collect the data about the work that is
done and compare as to how it corresponds with what is required
 b. defect metrics: you need to capture the deviation that are in the
effective portion of the work in defect metrics .then you need to
decide whether they are acceptable or need rectification .
c. samling: if the volumes are high you need to select a few of them
and inspect them to see whether the entire batch is acceptable.

3. Analyze: in this step you have to analyze the data received from the
preceding step by using following tools:
a. cause and effect diagrams also called fishbones diagrams
b. failure mode and effect analysis FMEA
c. root cause
d. reliability

4.Improve; IN THIS STEP YOU HAVE TO IMPLEMENT THE

MEASURES TO REMOVE THE DEFECTS FOUND EARLIER for
improving the process this can be done using following measures.
a.design of experiment: the effect of changing values of parameters is
done in controlled way .
b. robust design: robust to reduce the variation.
c. tolerances: permitted deviation are made closer so that capability of
process increased.

5. standardize: when improvements have become consistent the

methods adopted are standardized.

ANS B. KNOWLEDGE AREA OF PROJECT MANAGEMENT

The project manager is a person who manages the project. The project
manager is responsible for carrying out all the tasks of project.
Responsibilities are:

• Budgeting and cost control

• Scheduling task
• Allocating resources
• Tracking project expenditure
• Ensuring technical quality
• Managing relations with the customer and company

• Life cycle of a project manager overlaps with the development life

cycle in middle .duties of project manager start before the
development and continue even after delivery of the product.

• There are 9 project management areas:

1. project integration management: deals with process that integrate
different aspects of project management.
2. project scope management: deals with processes that are responsible
for controlling project scope.
3. project time management: deals with process concerning the time
constraints of the project.
4. project cost management: deals with process concering the cost of
project
5. project quality mangment: that assures that project meets its quality
obligations.
6. project human resource management: deals with obtaining and
managing project team .
7. project communication management: concerning communication
mechanisms of project.
8. project risk management: concered with project risk management.
9. project procurement management: obtaining products and services
needed to complete a project.
 Q.2 WRITE FEW WORDS ON :

A. PROJECT CHARACTERISTICS
B. WBS
C. PMIS
D. PROJECT MANAGEMENT STRATEGIES INTERNAL AND
EXTERNAL?

ANS: (A) PROJECT CHARACTERISTICS ARE:

• RESOURCE REQUIRMENT: during the course of executing the

project it is seen that the resource requirement increasesfrom start to an
intermediate stage of the project. It further incrases at a rapid rate and
becomes constant while th project is at 80 to 95% progress stage.
• FUNDS: the requirement of funds for th complete execution of the
project also follows the same trend as that of resources .both the
requirement are more or less proportional .
• PROBALITY OF COMPLETION: the probability to complete the
project can be estimated base upon the normal distribution curve. In
initial stage project probability of completing project is low though not
zero.
• RISK: the risk involve in the project affecting its completion time are
high at the initial stages and low at the later stages of the project.
• Design changes: the influence of such external factors on the project
may result in changes in the design of the project though not very often
.

(B) WBS: work+ breakdown+ structure .the entire process of a project

may be considered to be made up on number of sub process placed in
different stage called work breakdown process.
 WBS is the technique to analyse the content of work and cost by
breaking it down into its component parts. Project key stages form the
highest level of the wbs which is then used to show the details at the lower
levels of the project. Each key stage compromise many tasks identified at
the start of planning and later this list will have to be validated.
The WBS does not show dependencies other than a grouping
under the key stages. It is not time based there is no timescale on the
drawing.

(C) PMIS: PROJECT MANAGEMENT INFORMATION SYSTEM

An information system is mainly aimed at providing the management
at different levels with information related to the system of the
organization . it helps in maintaining discipline in the system.
An information system deal with project management tasks is the project
management information system. It helps in decision making in arriving at
optimum allocation of resources.information system based on data base of
the organization.
The information communicated to managers at different levels
of organization depending upon needs.

(D) PROJECT STRATEGIES

INTERNAL PROJECT STRATEGIES ARE :_project fails for many
internal reasons some of them technical some of them managerial.
However even technical failure can often be traced back to a failure on the
part of the project executive management to recognize and deal with thse
inherent managerial risks. The project manager has a vital role to play in
achieving project success and should therefore insist on the following:
• Executive support
• Competence
• Project team
• Management information systems
 EXTERNAL PROJECT STRATEGIES ARE:_ On some projects
events external to the project sometimes come as a surprise to the
project manager and his team and are therefore seen as obstacles to
progress. As noticed earlier, project generally exist only because of
that external environment and so it is essential for the project team to
recognize that they must also be responsive to it. Environment not
same for every project .its determined by 3 considerations are:
1. the product resulting from the project
2. the technology and the manner of application
3. its physical location

• Together with project sponsors owners and users these people

constitute the project direct or indirect-stakeholders. Strategies
for external environment as below:
• Developing sound stakeholders
• Stakeholder grouping
• Project public relation

Q.3 LIST THE VARIOUS STEPS FOR RISK MANAGEMENT .ALSO

EXPLAIN GDM AND ITS KEY FEATURES.?

ANS: Risk are those events that may occur and whose occurrence has a harmful
or negative impact on a project.risk management aims to identify the risks and
then take actions to minimize their effect on the project. Risk management
entails additional cost.Hence risk management can be considerd cost effective
only if the cost of risk managtment is considerably less than the cost incurred if
the risk materializes.
Components are: _
(a)RISK ASESSEMENT: identify the possible risks and assess the
consequences by means of checklists of possible risks surveys meetings and
brainstorming and reviews of plans processes and products.

(B) RISK CONTROL: Identity the actions needed to minimize the risk
consequences .this is also known as risk mitigation. Devlop a risk management
plan. Focus on the highest prioritized risks. Priortised requires analyse the
possible effects of the risk event in case it actually occurs. This approach
requires a quantative assessment of the risk probability and risk consequences.

(C) RISK RANKING : Rank the risk based onprobability and effects on the
project eg. High probability, high impact,will have higher rank than a risk item
with medium probability and high impact. In case conflict use judgment.

(D) RISK MITIGATION: Select the top few risk for mitigation and tracking.
refer to list of commonly used risk mitigation steps for various risk from the
previous risk logs maintained by the project manager and select suitable risk
mitigation step.risk mitigation step must be properlyexecuted by incorporating
them into the project schedule.
In addition to moniteringthe progress of the planned risk mitigation steps are
periodically revisit the risk perception for the entire project. The results of
review are reported in each milestone analysis report.